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MUSHROOM FARMING INCOME


What iz da TAX Treatment of income generated by growing Mushrooms............

 Is it an agricultural income.........??

or a taxable under Income Tax Act...??

 
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Chartered Accountant


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CHK IT OUT..

 
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Since MUSHROOM is a CROP, hence to best of my knowledge INCOME FROM GROWING OF MUSHROOM WILL BE AGRICULTURE INCOME..

 
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Manager (F & A)


agreed with amir

sunil

 
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Newly minted CA


 yes, i should be agriculture income, no doubt abt it

 
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 I agree with the above suggestions.

 

Also i want to add that check the activity in accordance with definition of agricultural income given in sec 10(1). If it satisfies all the conditions then it is agricultural income.

 
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